Business Context and Reporting Period
This Form 8-K is a current report filed by U-Store-It Trust (referred to in the request as Cubesmart) on March 31, 2010. The filing addresses a temporary suspension of trading under the registrant's employee benefit plans.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on administrative changes to the 401(k) Plan and does not contain financial performance data.
Material Changes
The material change reported is the implementation of a Blackout Period for the U-Store-It L.P. 401(k) Plan. This restriction is necessary to facilitate the transition of the Plan's administration to a new service provider.
Guidance, Outlook, and Management Commentary
- Blackout Period Dates: Expected to begin at 4:00 p.m. EDT on April 15, 2010 and end approximately May 15, 2010.
- Restrictions: During this period, directors and executive officers are prohibited from engaging in certain transactions involving the Company's equity securities under Section 306 of the Sarbanes-Oxley Act and Regulation BTR.
- Participant Impact: Plan participants will be unable to access accounts, direct investments, change contribution rates, or obtain distributions or loans.
- Contact Information: Inquiries regarding the blackout period should be directed to the Senior Vice President – Chief Legal Officer at (610) 293-5700.
Key Facts for Investor Verification
- Verify the exact start and end dates of the blackout period once confirmed by the Company.
- Confirm the identity of the new service provider for the 401(k) Plan administration.
- Review the attached Exhibit 99.1 for the full text of the notice delivered to directors and executive officers.
- Note that this filing contains no financial results or forward-looking guidance regarding business operations.